Federal Direct Graduate Student Loan

The Financial Aid Office will review your processed Free Application for Federal Student Aid (FAFSA), your 2010 Federal Income Tax Returns (including all schedules filed and copies of original W-2's) and a 2011/2012 Federal Verification Worksheet.  The information will be used to determine the maximum "subsidized" Federal Direct Loan eligibility.  If the subsidized eligibility is not the full amount you are eligible to borrow, you may apply for the remaining amount as an "unsubsidized" Federal Direct Stafford Loan.

Graduate students may qualify for up to $20,500 ($8500 maximum base amount in Federal Direct Subsidized/Unsubsidized Loan plus an additional $12,000 Federal Direct Unsubsidized Loan).  The base amount can be a combination of subsidized and unsubsidized funding depending on financial need determined by the FAFSA. 

In order to process (certify) a Federal Direct Loan for the 2011-2012 school year, the following steps must be completed.

Step 1:  You must file a 2011-2012 FAFSA with Skidmore College's code (002814).  Skidmore College will receive the information electronically as long as our school code is listed.

Step 2:  Submit your 2010 Federal Income Tax Return, signed, with all schedules and copies of original W-2's.

Step 3:  Submit a 2011-2012 Federal Independent Verification Worksheet.

Step 4:  Federal Direct Loans require an Entrance Interview be completed. 

Step 5:  You must complete a Federal Direct Loan Master Promissory Note (MPN) online. This must be completed in order for the loan to be certified and disbursed to Skidmore College.

Step 6:  Complete the Loan Form and return to the Financial Aid Office.  Once all above steps are completed and the information is received, your loan will be certified.